Selective Insurance Group, Inc. (NASDAQ:SIGI) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Selective Insurance Group, Inc. (NASDAQ:SIGI) have been assigned an average rating of “Hold” from the six analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $105.17.

Several research analysts have recently weighed in on SIGI shares. Piper Sandler reissued a “neutral” rating and set a $104.00 price objective on shares of Selective Insurance Group in a report on Monday, April 1st. Keefe, Bruyette & Woods dropped their price target on Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 6th. Royal Bank of Canada reduced their price objective on Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating for the company in a research report on Friday, February 2nd. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research report on Monday, April 15th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price target on shares of Selective Insurance Group in a research report on Friday, April 5th.

Insider Activity

In related news, COO Brenda M. Hall sold 2,626 shares of Selective Insurance Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.88, for a total transaction of $278,040.88. Following the sale, the chief operating officer now owns 10,511 shares of the company’s stock, valued at approximately $1,112,904.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in shares of Selective Insurance Group by 68.9% in the fourth quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock worth $27,000 after buying an additional 104 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Selective Insurance Group during the 1st quarter worth approximately $27,000. Fidelis Capital Partners LLC purchased a new stake in shares of Selective Insurance Group during the 1st quarter worth approximately $48,000. Headinvest LLC bought a new position in shares of Selective Insurance Group during the 3rd quarter valued at approximately $62,000. Finally, Burkett Financial Services LLC purchased a new position in shares of Selective Insurance Group in the fourth quarter valued at $75,000. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Stock Performance

SIGI stock opened at $99.00 on Thursday. The stock’s 50 day simple moving average is $103.12 and its 200 day simple moving average is $102.48. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.18. Selective Insurance Group has a 12-month low of $92.06 and a 12-month high of $109.58. The stock has a market capitalization of $6.02 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 0.77 and a beta of 0.55.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.33 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.55). Selective Insurance Group had a net margin of 8.02% and a return on equity of 13.73%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the business earned $1.44 earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, research analysts forecast that Selective Insurance Group will post 7.49 earnings per share for the current fiscal year.

Selective Insurance Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Tuesday, May 14th. Selective Insurance Group’s dividend payout ratio is currently 24.74%.

About Selective Insurance Group

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.